Light valves, and in particular micromachined light valves, have been known for many years. There are two types of micromachined light valves. The first group are devices operating over a wide range of wavelengths, including white light. These devices typically require a large movement (several microns) of the active micromachined element. This large movement prevents a fast (sub-microsecond) response time. In the second group are devices working on the principle of diffraction gratings. These devices require only sub-micron movements, therefore permitting sub-microsecond response times. Devices in this second group have higher losses and lower contrast ratio than devices of the first group. They are wavelength specific, as the elements move about one quarter of one wavelength. It is an object of this invention to combine fast response time, high optical efficiency, high contrast ratio and a wide range of wavelengths in a single device.